Shares Spotify (SPOT) slid back into the 120s on Tuesday amidst a broader market downturn and softened price targets. Spotify’s ‘disruptive public offering’ is facing renewed turbulence amidst broader market malaise. While Britain careens towards the …
Category archives: Wall Street
Spotify Briefly Scrapes $131 In Tuesday Trading; Goldman Sachs Says Buy!
Spotify’s stock price has been scraping newfound lows, but longtime investor Goldman Sachs says the stock is a buy at this price. And so are many other market watchers. SPOT briefly hit a low of $131 during today’s trading before bouncing back to $141…
Spotify’s Stock Hits an All-Time Low In Monday Trading — Now for the Bad News
Shares of Spotify (SPOT) slumped to a record low of $139.11 in Monday trading, with downward pressure in after-market trading. But will this get worse after Thursday’s financial results? With Monday’s $139.11 buzzer, Spotify Technology SA has now shed…
Spotify Plunges to a Post-IPO Low of $146.08 — Time to Panic?
Shares of the world’s most popular online music streaming service were rattled on October 24th as the Dow Jones Industrial Average lost more than 600 points. Spotify stock reached $146.08 by the time Wall Street closed an abysmal session on Wednesday. …
Top Wall Street Analyst Says Spotify’s Label Renegotiations Are “Less Significant Than Most Investors Believe”
Spotify’s renegotiations with the major music labels are happening next year. Here’s another Wall Street analyst who doesn’t seem too concerned. MKM Partners analyst Rob Sanderson wrote a memo to clients saying that most of Wall Street seems overly fo…
Tencent Music Officially Files for Its $25 Billion IPO — and Spotify, Warner Music, and Sony All Have Stakes
You might call Tencent Music Entertainment the ‘Spotify of China’. Just one big difference: Tencent is profitable. Tencent Music Entertainment has officially filed for an IPO in the U.S., a widely expected move. The Tuesday filing reveale…
Guggenheim Says Spotify’s Major Label Renegotiations Will Significantly Lower Royalty Obligations
Spotify’s stock bounced upward again on Thursday, thanks to optimistic comments from Guggenheim analyst Michael Morris. Spotify’s renegotiations with the major labels will significantly improve the company’s gross margins, according t…
Sonos Stock Is Plunging After a Disappointing Earnings Report
Sonos is facing heavy turbulence on Wall Street after a less-than-stellar earnings report. Sonos has been a pioneer in the market for wireless speakers and related services. But maybe the space for smart speakers is simply too crowded. Last month, the…
Spotify’s Cofounder Cashed Out $41 Million In Shares, Report Claims
According to a new report from Swedish music site, Di Digital, Spotify founder Martin Lorentzon has sold nearly $41 million in shares. The Swedish source says that SEC documents reveal that the sale happened back in July, shortly after the company̵…
Warner Music Cashes Out Its Entire Spotify Stake — Totaling $504 Million
Warner Music Group is awash in cash after a flowing third quarter — thanks largely to a complete liquidation of its Spotify shares. Life is good at Warner Music Group, thanks to the usual rainmaker: streaming music. According to financial details file…